Content Options

Content Options

View Options

Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


Status: This chapter was amended on 31 December 2020 as a result of Brexit. However, it is subject to the FCA Prudential Transitional Direction , which means that firms should not comply with these provisions yet. Instead, firms must follow this link and continue to comply with pre-IP completion day requirements https://www.handbook.fca.org.uk/handbook?date=31-12-2020&timeline=True (unless specified otherwise in the Direction). To see a full list of Handbook modules affected, please see Section B of the Annex to the Direction.


You are viewing the version of the document as on 2012-12-13.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

GENPRU Sch 2 Notification and reporting requirements

11 The aim of the guidance in the following table is to give the reader a quick overall view of the relevant notification requirements.

2 It is not a complete statement of those requirements and should not be relied on as if it were.

3 Table

Handbook reference

Matter to be notified

Contents of notification

Trigger events

Time allowed

GENPRU 1.5.19 R

Intention to change maximum amount of callable contribution

Fact of intention and details of the change

Intention to change the maximum amount

Adequate advance notice, normally not less than 6 months

GENPRU 2.1.11 R

Breach or expected breach of GENPRU 2.1.13 R or main BIPRU firm Pillar 1 rules

Fact of breach or expectation of breach

Breach or expectation of breach

Immediately

GENPRU 2.2.19 R

Intention to deduct illiquid assets rather than material holdings

Fact of intention

Intention to start or stop using method in column 2

One month prior to change of method5

5GENPRU 2.2.61B R

Intention to issue a capital instrument for inclusion in capital resources

Fact of intention and details of intended amount, issue date, type of investor, stage of capital, features of instrument and confirmation of compliance with rules

Intention to issue

One month prior to issue, unless exceptional circumstances prevent a firm adhering to a one-month period

5GENPRU 2.2.61C R

Proposed changes to details of the issue of a capital instrument notified under GENPRU 2.2.61B R

Proposed change and all information required under GENPRU 2.2.61B R (1) to GENPRU 2.2.61B R (4)

Intention to change any details of the issue previously notified to the FSA

As soon as the changes are proposed

5GENPRU 2.2.61D R

Proposed establishment of a debt securities program

All information required under GENPRU 2.2.61B R (1) to GENPRU 2.2.61B R (4)

Intention to establish

One month prior to first drawdown

5GENPRU 2.2.61F R

Issue of capital instruments for inclusion in capital resources where instrument or facility previously notified to the FSA

All information required under GENPRU 2.2.61B R (1) to GENPRU 2.2.61B R (3) and confirmation no changes have been made to the terms of the instrument since a previous similar issue

Intention to issue

No later than date of issue

GENPRU 2.2.74 R

Intention to redeem tier one instrument included in tier one capital resources

Fact of intention and details of the firm's position after such redemption in order to show how it will meet the capital resources requirement,3 how it will have sufficient financial resources to meet the overall financial adequacy rule2 and, in the case of a BIPRU firm, how it will not otherwise suffer any undue effects to its financial or solvency conditions3

Intention to redeem

At least one month prior to becoming committed to redeem2

2

3GENPRU 2.2.79G R

Intention to purchase a tier one instrument in accordance with GENPRU 2.2.79A R

Fact of intention and details of the firm's position after the purchase in order to show how, over an appropriate timescale, adequately stressed, and without planned recourse to the capital markets, it will meet its capital resources requirement and have sufficient financial resources to meet the overall financial adequacy rule

Intention to purchase

At least one month prior to becoming committed to purchase

4GENPRU 2.2.83B R

Intention to include in stage A of the capital resources table different classes of the same share type that meet the conditions in GENPRU 2.2.83 R and GENPRU 2.2.83A R but have differences in voting rights.

Fact of intention.

Intention to include in stage A of the capital resources table classes of the same share type that have different voting rights.

At least one month before the shares are issued or (in the case of existing issued shares) the differences in voting rights take effect.

4GENPRU 2.2.83F R

Intention by a building society to issue a capital instrument that includes a coupon limit in its terms of issuance in accordance with GENPRU 2.2.83E R.

Fact of intention.

Intention to issue a capital instrument that includes a coupon limit.

At least one month before the intended date of issue.

GENPRU 2.2.135 R

Intention to include an unusual transaction in capital under GENPRU 2.2.124 R

Fact of intention.

Intention to include in capital

At least one month prior to inclusion of that capital in capital resources

GENPRU 2.2.171 R

Proposal to amend a tier two instrument

Details of the proposed amendment

Proposal to amend

One month before amendment is due to take effect

GENPRU 2.2.174 R

Intention to repay (other than on contractual repayment date) tier two instrument

Fact of intention and details of the firm's position after such repayment in order to show 2how it will meet the2 capital resources requirement and how it will have sufficient financial resources to meet the overall financial adequacy rule2

22

Intention to repay

Six Months (in the case of an insurer) 2or one Month (in the case of a BIPRU firm) 2prior to becoming committed to 2repayment

22

GENPRU 2.2.243 R

Intention to pay interest or principal on subordinated debt included in tier three capital resources if the firm's capital resources are less than 120% of its capital resources requirement

Fact of intention

Intention to pay

One month prior to any payment of interest or principal

GENPRU 2.2.245 R

Intention to repay (other than on contractual repayment date) tier three capital resources

Fact of intention and details of how the firm will meet its capital resources requirement after such repayment

Intention to repay

One month prior to repayment